Ann: DGR Group Business Update, page-18

The PGM/CLQ to DGR comparrison is not a great one, I admit that. But I think PGM is the place to invest however. Yes you could do 2 or 3 bags on CLQ, but you could do 6-10 on PGM. Thats just on a relative basis, or with a bit of good promotion
The point in relation to DGR.... O.k, Ive digressed.

Better example ANW or DHR. End of last year the mkt caps 10-15 million. We all know too cheap, but it had been too cheap for years. ANW had signed off on Taronga. I thought that would be the catalyst for a re-rate. Mkt it turns out was more interested in Cobalt and it was the annoucement of drilling cobalt that kicked the share price into gear. Should a share price double/triple off some positive cobalt results??? Probably not, but with Taronga approvals, another tin mine in Tasmania, well the mkt doesnt mind giving the old girl a kick along. And I think this will happen to DGR, and I am guessing the catalyst will be Aguinaga. In response to buying SOLG and IRR seperate, why would I do this? Your fellow heart Freehold thinks DHR is a possible 10 bagger from these prices. ANW off its highs and we await positive cash flows. AJQ ramping up into massive east coast gas shortages. IRR and SOLG I am bullish on obviously. So I just dont see where the subs are underperforming. And I can buy DGR at half its NTA. So why go for SOLG or IRR as solitary entities?

Perhaps if DGR was trading at NTA and you wanted to make the point that admin costs were high then I would have cause to worry. As it is we trade at half of NTA the argument about trading at a premium is somewhat redundant to me. (although I appreciate that is the conversation you were having).